News

Lay-offs at Chinese tech giants to vary by sectors

Recent media reports about the downsizing of China’s technology giants, including Tencent and Alibaba, may have been overblown as lay-offs were only expected in some new and unprofitable units, some Chinese technology news websites reported.

Sources familiar with the situation told Chinese media that it was not possible for the two companies to slash 30% of their staff in a short period of time, but a 10-20% reduction, involving thousands of jobs in some segments, would be inevitable.

The sources said the two tech giants would continue to expand their core e-commerce businesses.




Source link

Leave a Reply

Your email address will not be published.

close